Here's How Much Twitter CEO Could Walk Away With If Elon Musk Shows Him The Door

Twitter Inc TWTR CEO Parag Agrawal could stand to get a severance check worth over $40 million if he is terminated within 12 months of Tesla Inc TSLA CEO Elon Musk taking over the social media platform.

What Happened: Equilar, a source for corporate leadership data, estimated that vesting of all of Agrawal’s equity awards (at Musk’s offering price of $54.20 per share) and a year’s worth of base salary would bring the severance figure to $42 million, reported Reuters.

See Also: How To Buy Twitter (TWTR) Shares

Why It Matters: Musk indicated that he did not have “confidence in [Twitter] management” in a filing with the U.S. Securities and Exchange Commission on April 14.

“Since making my investment, I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company,” said Musk in the filing.

On Monday, Musk secured the Twitter takeover with a price tag of $44 billion. 

Price Action: On Friday, Tesla shares dropped 0.4% to $1,005.05 in the regular session, while Twitter shares ended 3.9% higher at $48.93, according to data from Benzinga Pro. 

Read Next: No Knights Came To Twitter's Rescue As Musk Swooped Down, 'Soap Opera' Now Over, Says Analyst

Photo courtesy: Twitter

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Posted In: NewsSocial MediaTechMediaGeneralElon MuskParag Agrawal
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